NIFTY Futures Mechanical Trading

ravalsb · #**191** 19th January 2008, 09:53 PM

I agree with Mahendra. Also, also provide for short term capital gains. I guess STCG rate on futures is 30%. Please correct me if I am wrong.

Happy Trading

Quote:

Originally Posted by MAHENDRA B JAIN

Dear Vinod,

I have been through your thread n came across the followings :

1. You have not taken brokerage into calculations.

2. You have also not taken into calculations, the filter u have mentioned,
about 5 to 10 points above resistance n below support.

If u take into calculations, brokerage n filter of 10 points, the gain
is reduced by 70% Then ur strategy becomes unattractive n risky.

With Regards,
MAHENDRA

callme2shy · #**192** 21st January 2008, 07:14 AM

Quote:

Originally Posted by nadodav

Hi Nitin,

Now I am full time trader and sub-broker. I am an electronics graduate (BE) and was in computer business for almost 10 years but left business in 2005 & jump in to stock market.

Vinod

thats interesting..
i have added you to my y_a_h_o_o list...

sachin_jain3 · #**193** 21st January 2008, 04:44 PM

Hello Vinod,

I have been seeing your thread for quite some time but not following it. I have been trading on my own based on my understanding of supports and resistances. I had taken a long position on friday @5700 on nifty. Now i am in big losses. the market it seems is not finding support anyhwhere. Can you let me know based on your system whether to expect a pull back this week and what could is the price i can get in this week to close my long position.

Sorry for the botheration.

thanks,
Sachin

marcus · #**194** 21st January 2008, 06:39 PM

Quote:

Originally Posted by sachin_jain3

Hello Vinod,

I have been seeing your thread for quite some time but not following it. I have been trading on my own based on my understanding of supports and resistances. I had taken a long position on friday @5700 on nifty. Now i am in big losses. the market it seems is not finding support anyhwhere. Can you let me know based on your system whether to expect a pull back this week and what could is the price i can get in this week to close my long position.

Sorry for the botheration.

thanks,
Sachin

Wow you have a huge loss on your hands! You should have closed your position when your SL was hit no matter what anyone says because no one can forsee tomorrow.

Also please study the term drawdown and its effects, once your drawdown exceeds 30% it is difficult to return to profitability

nadodav · #**195** 21st January 2008, 07:50 PM

Quote:

Originally Posted by sachin_jain3

Hello Vinod,

I have been seeing your thread for quite some time but not following it. I have been trading on my own based on my understanding of supports and resistances. I had taken a long position on friday @5700 on nifty. Now i am in big losses. the market it seems is not finding support anyhwhere. Can you let me know based on your system whether to expect a pull back this week and what could is the price i can get in this week to close my long position.

Sorry for the botheration.

thanks,
Sachin

Dear Sachin,

Trading futures without stoploss is like driving a car without break. the mistake is not buying @ 5700 but to holding without any stoploss. before entering, you should have atleast your own stoploss. I really don't know what will happen this week as my method is following a trend and not to forecast. All global markets are sharply correcting plus continuous FII sales so it is very difficult to predict anything.

If your trading style in future is going to remain same as it is of today than i only advise you to stop trading futures.

Vinod

nadodav · #**196** 21st January 2008, 07:57 PM

NIFTY FUTURE For January 22,

Current position : SHORT (at 6210 on 10/01/2007)

Nifty Fut Closed at : 5197.85

Profit/(Loss) in current trade : +1012.15 (as per last closing price)
Net Profit / (Loss) since thread started : +1379.15 (367.00+1012.15)

Support : 5125
Resistance : 5590

Hold SHORT positions with SL 5590. If trades above 5590, exit SHORT & go LONG with SL 5125

All new members visiting first time are requested to read all messages start from first one before going ahead.

No fresh position should be taken based on my support and resistances as range is very wide (more than 400 points).

Happy Trading.

Vinod

MaxBombay · #**197** 22nd January 2008, 12:03 AM

vinod congratulations on todays success

marcus · #**198** 22nd January 2008, 04:14 AM

Quote:

Originally Posted by nadodav

NIFTY FUTURE For January 22,

Current position : SHORT (at 6210 on 10/01/2007)

Nifty Fut Closed at : 5197.85

Profit/(Loss) in current trade : +1012.15 (as per last closing price)
Net Profit / (Loss) since thread started : +1379.15 (367.00+1012.15)

Support : 5125
Resistance : 5590

Hold SHORT positions with SL 5590. If trades above 5590, exit SHORT & go LONG with SL 5125

All new members visiting first time are requested to read all messages start from first one before going ahead.

No fresh position should be taken based on my support and resistances as range is very wide (more than 400 points).

Happy Trading.

Vinod

At this stage what would you do if the market turns volatile say goes up and then down, in which case you would be out by about 800 points, as I am sure you will not let that happen, do you have any stop loss or protective mechanism in place when the range between support and resistance becomes very high?

nadodav · #**199** 22nd January 2008, 10:32 AM

Quote:

Originally Posted by marcus

At this stage what would you do if the market turns volatile say goes up and then down, in which case you would be out by about 800 points, as I am sure you will not let that happen, do you have any stop loss or protective mechanism in place when the range between support and resistance becomes very high?

Frankly speaking, i do not have any protective mechanism. but chances are very low to go up nifty 400+ and than again down by 400+ in a single day but that can happen also. what max that we can do if it breaks resistance than we can cover short but will not take long position. and will wait till range narrow down to some what 150 or max 200 kind of range before taking a position eitherside. or we can buy Nifty ATM call right now to protect profit.

Vinod

nadodav · #**200** 22nd January 2008, 06:26 PM

NIFTY FUTURE For January 23,

Current position : SHORT (at 6210 on 10/01/2007)

Nifty Fut Closed at : 4894.60

Profit/(Loss) in current trade : +1315.40 (as per last closing price)
Net Profit / (Loss) since thread started : +1682.40 (367.00+1315.45)

Support : 4713
Resistance : 5244

Hold SHORT positions with SL 5244. If trades above 5244, exit SHORT & go LONG with SL 4713

All new members visiting first time are requested to read all messages start from first one before going ahead.

No fresh position should be taken based on my support and resistances as range is very wide (more than 500 points).

Happy Trading.

Vinod